The French competitor of Spotify had tried to break into the stock exchange seven years ago, without success.
Le Monde with AFP
The French Musical Streaming Platform Deezer took its first steps Tuesday, July 5 on the Paris Stock Exchange, a few minutes after the bell sounded in the premises of the Euronext stock market to symbolically mark the start of the exchanges , noted a journalist from the France-Presse agency (AFP) on site.
The bell ceremony was made in the presence of the Minister of the Economy, Bruno Le Maire, who praised just before the ceremony “a historic date for Deezer, who will be able to grow”. “This is its first challenge: to have access to international markets, especially Anglo-Saxon,” he added.
first, which
Behind this IPO, “There is an economic issue, in terms of jobs, creations of wealth, cultural too. I believe in French cultural sovereignty and streaming platforms, that’s a way To defend French culture, French song, “insisted the Mayor.
These first steps on the stock market were hectic for the French competitor of Spotify, who plunged 16 % Tuesday morning during his first exchanges on the Paris Stock Exchange, said the stock market operator Euronext. Around 9:40 am, the title still fell from 14.12 % to 7.30 euros, compared to 8.50 euros in its opening price, in a market market. Shortly before, its price had received 7.14 euros, a drop of 16 %.
Deezer had tried to break up on the stock market seven years ago, but failed. Since then, market conditions have become more favorable for the sector in full boom in musical streaming, largely dominated by the Swedish Spotify.